By Omri Wallach
The last decade has witnessed a remarkable surge in the global number of millionaires.
By 2022, 1.1% of the world’s adults were millionaires, up from 0.6% in 2012. So, how to know if you belong to the top 1% in your country?
The 1% Club
The individual net wealth required to join the top 1% can vary across countries.
European hubs top the list, with small countries like Monaco or Luxembourg having extremely high wealth barriers to joining the top 1%.
| Countries | Region | Wealth (USD) | Population |
|---|---|---|---|
 Monaco |
Europe | $12,883,000 | 36,297 |
 Luxembourg |
Europe | $10,832,000 | 654,768 |
 Switzerland |
Europe | $8,509,000 | 8,796,669 |
 U.S. |
N. America | $5,813,000 | 339,996,563 |
 Singapore |
Asia | $5,227,000 | 6,014,723 |
 Sweden |
Europe | $4,761,000 | 10,612,086 |
 Australia |
Oceania | $4,673,000 | 26,439,111 |
 New Zealand |
Oceania | $4,574,000 | 5,228,100 |
 Ireland |
Europe | $4,321,000 | 5,056,935 |
 Germany |
Europe | $3,430,000 | 83,294,633 |
 France |
Europe | $3,273,000 | 64,756,584 |
 Hong Kong SAR |
Asia | $3,094,000 | 7,491,609 |
 UK |
Europe | $3,070,000 | 67,736,802 |
 Italy |
Europe | $2,548,000 | 58,870,762 |
 Spain |
Europe | $2,468,000 | 47,519,628 |
 Japan |
Asia | $1,971,000 | 123,294,513 |
 China (mainland) |
Asia | $1,074,000 | 1,425,671,352 |
According to this year’s report, Monaco leads with $12.9 million required to join the 1% club. Currently, more than 30% of Monaco’s estimated 38,000 residents are millionaires.
Luxembourg follows at $10.8 million, with Switzerland at $8.5 million securing the third position.
The U.S. ranks fourth at $5.8 million. Despite having the most ultra-wealthy individuals, the country’s high population base brings the law of averages into play.
Interestingly, a person in Hong Kong needs almost three times more wealth to join the 1% club compared to someone in Mainland China.
How to Join the 1% Club?
To be part of the top 1% club of one’s country or region often requires a combination of advanced education, entrepreneurship, strategic investments, and even luck. While there’s no guaranteed path to entry, consistency and time are key factors.
Source: Visual Capitalist
